Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No. 10BB for Assessment Year 2016-17 and subsequent years

Last updated: 05 November 2020

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The Central Board of Direct Taxes (CBDT) has issued a directive regarding the condonation of delays in filing Form No. 10BB. This applies to trusts, institutions, universities, and hospitals required to file this audit report under Section 10(23C) of the Income-tax Act. For assessment years prior to 2018-19, Commissioners of Income-tax are authorised to admit delayed applications if a reasonable cause is shown, with all such applications to be decided by 31 March 2021. For AY 2018-19 and subsequent years, Commissioners can condone delays of up to 365 days, provided there was a reasonable cause for the delay.

F.No.197/13S/2020-IT A-I Government ofIndia Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the 3rd November, 2020 Sub: Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No. 10BB for Assessment Year 2016-17 and subsequent years - Reg. Under the provisions of section 10(23C) of Income-tax Act, 1961 (hereafter Act) where the total income, of the fund or trust or institution or any university or other education

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FAQ :

Form No. 10BB is the audit report of accounts for entities like trusts, institutions, universities, and hospitals, as required by Rule 16CC of the Income-tax Rules, 1962.

Failure to furnish the audit report in Form No. 10BB along with the return of income can result in the entity being disentitled from claiming exemption under Section 10(23C) of the Income-tax Act.

For assessment years prior to AY 2018-19, Commissioners of Income-tax are authorised to admit applications for condonation of delay in filing Form No. 10BB.

All applications for condonation of delay in filing Form No. 10BB for years prior to AY 2018-19 must be disposed of by 31 March 2021.

For Assessment Year 2018-19 or any subsequent Assessment Years, Commissioners of Income-tax are authorised to admit belated applications where there is a delay of up to 365 days in filing Form No. 10BB.

In all cases, the Commissioner of Income-tax must be satisfied that the applicant was prevented by a reasonable cause from filing the application within the stipulated time.